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    • China’s official manufacturing Purchasing Managers’ Index (PMI) recorded a contraction in activity (49.2) in October 2022, down from the very modest expansion (50.1) indicated in September 2022. Rising COVID-19 cases, further contraction in construction, and a possible contraction in export demand means this weakness will likely continue.The 50-point mark differentiates growth from contraction. “The reading dropped in October due to more frequent flare-ups of COVID-19. Economic recovery needs fu
    • North India’s cotton yarn prices were steady today as demand from downstream industry did not improve. A gloomy picture of future demand and fear of recession in Europe were the main causes of concern for the textile sector. Cotton yarn prices were stable in Ludhiana, Delhi and Panipat, and cotton prices remained unchanged after experiencing a sudden rise.Poor demand from the weaving industry did not support the market sentiments in Ludhiana where prices remained at the same level. “There was no
    • While most American businesses in China remain profitable, the impact of ongoing COVID-related restrictions is affecting business confidence and leading to lower investment, according to the China Business Report released by AmCham Shanghai recently. Recovery from the original 2020 shutdown has been stifled by the lockdowns earlier this year.Amid deteriorating US-China relations and macroeconomic pressures, members are reporting record-low optimism for revenue and the business environment, the r
    • China’s imports and exports from January to September 2022 rose by 9.9 per cent year-on-year (YoY) and were worth 31.11 trillion yuan (around $4.29 trillion). While imports to the country were valued at 13.44 trillion yuan (5.2 per cent YoY), exports added up to 17.67 trillion yuan (13.8 per cent YoY).The East Asian nation’s annual import and export growth rates for the period were 4.8 per cent and 13.2 per cent, respectively. China’s trade with the European Union, the United States, and the Ass
    • China’s imports rose by 5.2 per cent year-on-year (YoY) to 13.44 trillion yuan, while its exports touched 17.67 trillion yuan after an annual increase of 13.8 per cent. The country’s trade surplus during the period jumped 53.7 per cent YoY, totalling to 4.23 trillion yuan.The combined import and export value increased by 8.3 per cent compared to 2021, which is around 3.81 trillion yuan in September 2022, as per recent data from the General Administration of Customs China (GACC). Moreover, the na
    • The recent energy crisis has hit hard the Bangladesh textile mills. Industry leaders said that since the scarcity of gas began a couple of months earlier, 60% of textile mills’ production was hampered due to the gas crisis. And textile factories have reduced 30%-40% of their total production capacity and might hamper the $60 billion export earnings target set for the current FY23.Figure: Textile factories have reduced 30%-40% of their total production capacity.According to Bangladesh Textile Mil
    • Fabric constituted 78.75 per cent of the total textile exports of the world’s largest textile exporter China during the first half (H1) of 2022. It exported fabric worth $37.183 billion in this period, while its total textile exports were valued at $47.217 billion. Numerous small garment-exporting countries are dependent on China for upstream products.China prefers exporting value-added products. The country exported yarn worth $8.130 billion in the period which was 17.22 per cent of the total t
    • Over 60 per cent of consumers will cut down on non-essential categories like apparel, footwear, jewellery, and accessories if they are forced to reduce their holiday shopping budget, according to a recent International Business Machines Corporation (IBM) report. Nearly half of consumers will spend less if inflation continues to drive price increases.As COVID-19 pandemic concerns abate for many consumers, worries are shifting towards uncertain economic and supply chain conditions this holiday sea
    • The global home textiles market is expected to grow at an annual rate of 3.51 per cent between 2020-2025. The market size will reach $151.825 billion by 2025. China will maintain its dominance position in the segment, and will also remain the largest home textiles market in the world with a share of over 28 per cent. India may achieve highest growth.According toFibre2Fashion’s market insight tool TexPro,global market size of home textiles was recorded at $110 billion in 2016. It grew to $127.758
    • To highlight the importance of this global commodity in generating jobs and maintaining economic stability in less developed countries, the United Nations General Assembly declared October 7 as World Cotton Day in 2021.Cotton represents so much more than just a commodity. This natural fiber is a life-changing product worldwide that sustains 32 million growers (mostly women) and benefits over 100 million families across 80 countries (North America, Europe, Asia-Pacific, South America, and Middle
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